Shayne & CO. LLC Sells 119 Shares of American Express Company (NYSE:AXP)
Shayne & CO. LLC decreased its stake in shares of American Express Company (NYSE:AXP) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,385 shares of the payment services company’s stock after selling 119 shares during the period. American Express comprises about 3.1% of Shayne & CO. LLC’s investment portfolio, making the stock its 6th largest position. Shayne & CO. LLC’s holdings in American Express were worth $3,907,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. SeaBridge Investment Advisors LLC bought a new stake in shares of American Express during the first quarter valued at about $100,000. MCF Advisors LLC raised its stake in shares of American Express by 0.5% in the first quarter. MCF Advisors LLC now owns 1,282 shares of the payment services company’s stock valued at $101,000 after buying an additional 6 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of American Express by 30.4% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after buying an additional 300 shares during the last quarter. SpiderRock Advisors LLC bought a new stake in shares of American Express during the first quarter valued at about $112,000. Finally, SRS Capital Advisors Inc. raised its stake in shares of American Express by 10.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock valued at $116,000 after buying an additional 138 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.
Shares of American Express Company (AXP) traded down 0.313% during mid-day trading on Friday, hitting $84.295. 1,663,018 shares of the stock were exchanged. American Express Company has a 12 month low of $59.50 and a 12 month high of $86.67. The firm has a market cap of $74.52 billion, a P/E ratio of 17.288 and a beta of 1.18. The stock’s 50 day moving average is $84.73 and its 200 day moving average is $80.16.
American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.44 by $0.03. The firm had revenue of $8.31 billion for the quarter, compared to analyst estimates of $8.20 billion. American Express had a return on equity of 21.90% and a net margin of 14.11%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $2.10 earnings per share. Analysts expect that American Express Company will post $5.74 EPS for the current fiscal year.
American Express declared that its Board of Directors has approved a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $4.40 billion in outstanding shares. This buyback authorization permits the payment services company to reacquire up to 5.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
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Several brokerages have issued reports on AXP. Piper Jaffray Companies reiterated a “neutral” rating and set a $83.00 target price (up from $82.00) on shares of American Express in a research report on Saturday, April 22nd. BidaskClub upgraded shares of American Express from a “sell” rating to a “hold” rating in a research report on Tuesday. Instinet reiterated an “underperform” rating and set a $80.00 target price on shares of American Express in a research report on Thursday, June 29th. Barclays PLC restated a “buy” rating and issued a $83.00 price objective on shares of American Express in a report on Thursday, July 20th. Finally, BMO Capital Markets restated a “hold” rating and issued a $84.00 price objective on shares of American Express in a report on Thursday, June 1st. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have issued a buy rating to the company. American Express currently has a consensus rating of “Hold” and an average target price of $84.77.
In other news, insider Paul D. Fabara sold 5,981 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $85.88, for a total transaction of $513,648.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Marc D. Gordon sold 4,900 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $76.98, for a total value of $377,202.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 948,287 shares of company stock worth $80,321,961. Insiders own 0.67% of the company’s stock.
American Express Company Profile
American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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